Liveblog: Opening EA13

well, it’s been a decidedly illuminating panel, and i’m glad i had the opportunity to share my thoughts with you..

until next time–
all best,
-ian

Another sign of opening: Myanmar Pres U Thein Sein addressing intl audience for 1st time in English. #WEF #EA13

— Robert Greenhill (@RobertGreenhill) June 6, 2013

that being said, even where the government lacks the political capital to provide infrastructure, all sorts of other entities are filling the gap.

the construction of road and rail networks with help from companies like coca-cola, neighboring countries, and international financial institutions such as the world bank and the imf, will increase myanmar’s connectivity to thailand, malaysia, and vietnam—all of which could become key trading partners interested in myanmar’s low labor costs and primary resources.

as laos’ prime minister speaks, here is an interesting statistic that demonstrates how far behind myanmar is:

laos, with about a 10th of myanmar’s population, received the same amount of foreign direct investment in the calendar year 2012.

http://online.wsj.com/article/SB10001424127887324063304578520633473332690.html

some stories of note:

laos recently sold its first sovereign bond.
http://www.reuters.com/article/2013/05/29/idUSL3N0EA1HF20130529

Laos economic growth rate in 2012: 8.3%- Laos PM Thongsing Thammavong #WEF #WEFopen #EA13 http://t.co/dB2Ed6678j

— World Economic Forum (@wef) June 6, 2013

vietnamese prime minister is calling for collaboration between countries in a mutual, harmonious fashion. domestically, though, we’ve seen politics play out in a more coercive manner:

“in the first five months of this year, more than 50 people were convicted in political trials, more than matching the total for 2012.”
http://www.hrw.org/news/2013/06/04/vietnam-rights-abuses-spotlight

I would like the young people of Myanmar to share the prosperity of this region – Myanmar Pres U Thein Sein #WEF #WEFopen #EA13

— World Economic Forum (@wef) June 6, 2013

prime minister dung has had to keep laser focus on his country’s bouts of inflation:

(h/t http://www.economist.com/news/21566589-vietnam)

president thein sein has taken the stage. here’s a quick bio:

he’s the first president from myanmar welcomed in washington in 47 years.

he was born near the irrawaddy delta, which was among the hardest hit places by cyclone nargis in 2008– the worst ever such disaster in that area, killing 140,000 people. myanmar was simply unable to manage the catastrophe– there are people who think the military’s decision to engage in economic reform and cede power could have stemmed from the country’s inability to deal with the crisis.

klaus shwab is delivering the opening remarks:
“we are not here only as observers.”
“the reform process cannot only be top-down.”
“i am very optimistic about this country… by adapting fast, it can achieve a growth rate of 10% on a long-term basis.”

it’s not surprising that we have coca-cola in the audience here at the wef summit. it has a planned five-year $200 million investment– after having no local production for more than 60 years.

i actually interviewed coca-cola ceo muhtar kent a month back, on the subject of myanmar. here’s the text:

“Me: I could make the argument that the Obama administration’s single greatest foreign-policy success — although no one in the administration went into office anticipating it or spearheading it — was Myanmar opening up. It really worked. And Coke was in there fast. Coke was in there early. How did you do it?
MK: Earlier in my career, I guess I was fortunate to be in Vienna with the responsibility of opening up Eastern Europe — about 15 months before the Berlin Wall came down. Just like it was then, you had to make a call, that the wall would come down, and you had to spend money. And you’d look foolish spending money, opening offices behind the wall, if it didn’t come down. But everything proceeds too quickly not to prepare in advance. You just need to make a judgment call sometimes. I love Southeast Asia. As a child, I lived in that part of the world. My first time in Burma was in 1958 with my parents. And so recently we started talking to a lot of people; we have partners in Thailand. We firmly believed it [Burma] was poised for change.
Me: So the U.S. began suspending sanctions in Myanmar in May 2012. When did you start looking at the possibility of doing business there in a serious fashion?
MK: Seriously thinking we’d be in business? About three years ago.
Me: I met with their minister of tourism recently. He was talking about where Myanmar is on infrastructure — they need everything. As of last year, Myanmar’s electrification rate was 26 percent. Transparency International’s Corruption Perceptions Index 2012 ranks Myanmar at 172nd out of 176 countries. Is there a role Coca-Cola is playing to help Myanmar get up the curve faster — bureaucratic capabilities, infrastructure, all these things — to more quickly join the world of nations?
MK: I think we are helping. We’re getting Myanmar on board to join the 5 by 20 initiative for the economic empowerment of women. On top of that, we’re talking with our sustainability partners to have Burma realize the incredible value they have in the natural beauty of their country. They need to learn from the lessons of other countries where the pace of development came at the extreme detriment of nature. They have this special gem that they’ll be better off in the long run if they respect. That doesn’t mean, by the way, that you trade it for poverty. In the long run, every one of the 50 million-plus citizens can benefit from utilizing the natural environment responsibly.
Me: Coca-Cola remains on the sidelines in two major countries: Cuba and North Korea. Any speculation as to whether we’ll see Coca-Cola in Cuba in the next five years?
MK: No comment. “

http://www.foreignpolicy.com/articles/2013/04/29/soft_drink_power?page=0,0

waiting for our speakers…

Opening plenary. Waiting for the President of #Myanmar, and PMs of #Laos and #Cambodia #WEF #EA2013 pic.twitter.com/QG121nJk5x

— Emily Chong (@emilyachong) June 6, 2013

as we wait for myanmar president thein sein to speak, it’s worth having a look at what the leader of the opposition party (the nld), and the other pillar of myanmar’s civilian political landscape, had to say when she spoke here earlier today. aung san suu kyi: http://www.weforum.org/events/world-economic-forum-east-asia-2013

Inclusive process means a greater share in economic growth for everybody – Aung San Suu Kyi #Myanmarfuture #WEF #EA13 http://t.co/irN2UqOAxr

— World Economic Forum (@wef) June 6, 2013

The administration must ensure security of all people in our country, whatever race or religion – Aung San Suu Kyi #Myanmarfuture #WEF #EA13

— World Economic Forum (@wef) June 6, 2013

It is easier to rename a country than to change it: Aung San Suu Kyi. #myanmar name change was done without people's will. #wef

— Pranjal Sharma (@pranjalsharma) June 6, 2013